USD/CAD Is Falling Again

USD/CAD reached the resistance at 1.3000 but it seems that is about as high as the pair is going to climb for now, because it formed a spinning top candlestick on the daily time-frame at that resistance level and started moving to the downside again. Its next target is likely around 1.2800, which coincides with (MA)89 on the four-hour time frame, and if the pair breaks below that level there will probably be a further move to the downside towards 1.2730. Of course, the continuation of the bearish trend will not be confirmed before USD/CAD breaks below the previous low at 1.2460, but either way, for now I have opened short positions.